Thursday Dec 06, 2012

The Challenges of Corporate Financial Reporting

Many finance professionals face serious challenges in managing and reporting their company’s financial data, despite recent investments in financial reporting systems. Oracle and Accenture launched this research report to help finance professionals better understand the state of corporate financial reporting today, and why recent investments may have fallen short.

The study reveals a key central issue: Organizations have been taking a piecemeal—rather than holistic—approach to investing. Without a vision and strategy that addresses process improvement, data integrity, and user adoption software, investments alone will not meet the needs or expectations of most organizations.

The research found that the majority of finance teams in 12 countries—including the U.K., USA, France, Germany, Russia, and Spain—have made substantial investments in corporate financial management processes and systems over the last three years. However, many of these solutions, which were expected to improve close, reporting, and filing processes, are ineffective, resulting in a lack of visibility, quality, and confidence in financial data.

Download the full report

Friday Nov 30, 2012

Oracle E-Business Suite is Helping to Save Lives at the National Marrow Donor Program

To improve the management of its life-saving operations, the National Marrow Donor Program recently modernized its financial and procurement operations by upgrading to Oracle E-Business Suite 12.1.  

As the global leader in bone marrow and umbilical cord blood transplants, the NMDP manages a complex ecosystem of donor, patient, hospital, and biological data.


“Maintaining accurate data and having an efficient matching process is essential, particularly as our global database of bone marrow patients grows and donor lists expand,” says Bruce Schmaltz, director of finance/controller. “We rely on the Oracle E-Business Suite to ensure our procurement and financial management processes meet the highest standards, enabling our growing non-profit to work swiftly and efficiently to help improve and save lives.”

As the non-profit organization and its registry grew larger, NMDP needed a modern platform to store and integrate its financial information and complicated procurement process. It selected Oracle E-Business Suite for its ability to fit seamlessly into NMDP’s enterprise architecture. NMDP initially implemented Oracle E-Business Suite release 12 by leveraging Oracle Business Accelerators, which are rapid implementation tools and templates that help reduce implementation time and costs.

With Oracle Financial Management and Oracle Procurement, NMDP has streamlined back-office processes and integrated its procure-to-pay business processes by leveraging industry leading accounts payable, accounts receivable, and general ledger modules.

NMDP is currently rolling out Oracle Hyperion Performance Management applications and plans to implement Oracle Order Management and Oracle Advanced Pricing by the end of 2012.

Read more details about NMDP’s modernization efforts. 

For more updates on Oracle Financial Management Solutions, view our November 2012 Oracle Information InDepth Financial Management newsletter. Subscribe Now. 

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Focusing on solutions for the Office of Finance, this blog will highlight key financial management market trends, events and other news of interest.

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